Exeter multi-storey car park up for sale
A major car park in Exeter city centre has been put up for sale. Last year it was recommended that the structure be demolished to make way for more co-living flats.
Mary Arches Street is being marketed by international real estate company Avison Young, which describes it as a "development site". At an Exeter City Council Executive meeting in December 2023, it was agreed that the multi-storey and the surface car park should be sold.
The dilapidated car park had been due to close in early 2023 and be demolished in November 2023, as part of proposals for a residential-led, mixed-use development of around 100 homes. These plans were being overseen by the council-owned development company Exeter City Living but fell through when the company collapsed.
Exeter City Council says it hopes the sale of the car park, as well as land at Clifton Hill, will recover its loan to Exeter City Living. A report to the authority's Executive had recommended that the sites should be sold without restrictions to generate the highest value. This was rejected by the Executive, which decided there should be restrictions to prevent the site being turned into purpose-built student accommodation.
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In December, Council Leader Phil Bialyk said: "Our officers have the role of securing the best deal possible for the Council. But notwithstanding the advice from officers, I have to weigh up all the considerations to ensure we get the best deal for our communities. The people of Exeter need new homes, so we will bring these sites forward for new homes.
"Mary Arches is right in the city centre, it is sustainable and it is a great location to create new homes for the people of Exeter.
"At Clifton Hill I made an undertaking four years ago to say that we were going to preserve the green space behind the leisure centre and that we weren’t going to propose any development on the golf range site or the ski slope.
"The best return for the people of Exeter is to keep these existing facilities and keep the open green space but to build on the site that already has planning permission to build new homes. I will stress again that it will not be purpose-built student accommodation – it will be homes for the people of Exeter."
Avison Young says the car park is a 1.2 acre development site which is "suitable for a range of uses". The price has not been revealed and is only available on application.